Flood Insurance Facts

• Flooding is not covered by a standard homeowner's insurance policy. 
• Flood insurance is available in most North Carolina communities.  More than 400 communities participate in the National Flood Insurance Program (NFIP) 
• Any walled and roofed building in an NFIP participating community is eligible, whether or not the building is located in a floodplain. Manufactured homes installed on a permanent site and anchored also can be insured. 
• Any licensed property casualty insurance agent or broker can sell the Standard Flood Insurance Policy. 
• There is a 30-day waiting period after a policy is purchased before coverage goes into effect.  However, if a new or renewal policy is required by a lender as a condition for obtaining a mortgage, then the coverage takes effect at closing. 
• Two types of coverage are available: 
  • Building coverage on walls, floors, insulation, furnace, and items permanently attached to the structure, except where excluded; 
  • Contents coverage for such items as furniture, appliances, and other household goods except where excluded.  This coverage must be purchased separately from building coverage.